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Dollar slips despite President Trump's remarks

Economies.com
2020-07-10 18:28PM UTC

The US dollar fell against most of its peers Friday, to maintain slim losses despite President Donald Trump's remarks.

 

President Donald Trump said that the Phase-Two trade agreement with the China is currently has become a low priority, adding "i have many other things in mind".

 

Trump stressed that two countries' relations has been severely damaged due to China’s mishandling of the coronavirus outbreak, that has spread to the US and many other countries.

 

He pointed out that China could have stopped the spread of the virus before the global outbreak this year, which is still ongoing rapidly.

 

The US producer price index reading for June shrunk by 0.2%, lower than forecasts of rising by 0.4%. 

 

The dollar index fell against a basket of currencies by 0.1% to 96.6 points as of 18:17 GMT, after hitting a high of 96.9 and a low of 96.4.

Oil extends gains, but heads for weekly loss

Economies.com
2020-07-10 18:10PM UTC

Oil prices rose Friday, amid optimism about the global demand, despite the lingering uncertainty and concerns about the coronavirus crisis.

 

Baker Hughes showed today that the US oil drilling rigs fell by 4 to a total of 181 this week.

 

The dollar index fell against a basket of currencies by 0.1% to 96.6 points as of 15:56 GMT, after hitting a high of 96.9 and a low of 96.4.

 

US President Donald Trump said today that a new trade agreement with the Chinese side isn't a top priority, after the two countries’ relationship has been severely damaged.

 

West Texas Intermediate crude rose 2.3% to $40.5 a barrel, after it hit an intraday high of $40.7 and a low of $38.5.

 

Brent rose 2.3% to $43.3 a barrel, with a high of $43.3 and a low of $41.3.

US oil drilling rigs count falls this week

Economies.com
2020-07-10 17:24PM UTC

Baker Hughes Co announced today that the US crude oil drilling rigs fell by 4 rigs to 181 during this week.

 

While the natural gas rigs fell by 1 to 75 rigs, with the total of oil and gas rigs falling by 5 to 258.

US stocks open mostly lower as coronavirus crisis continues

Economies.com
2020-07-10 14:18PM UTC

US stock indices fell Friday, after weak data and lingering concerns over the growing coronavirus crisis.

 

The US reported today that coronavirus infections increased by 63,000 new cases after yesterday's record spike of 65,000 cases, while health experts believe that the actual numbers are much higher.

 

The World Health Organization warned yesterday that the virus is still spreading at a high rate, and it might be airborne in crowded places.

 

The US producer price index reading for June shrunk by 0.2%, lower than forecasts of rising by 0.4%. 

 

As for stocks, Dow Jones rose 0.3% or 70 points to 25,777 as of 14:16 GMT, while Nasdaq fell 40 points to 10,508, and S&P 500 held at 3,152.